Which organization supports the Medical Information Bureau?

The Medical Information Bureau (MIB) is primarily supported by insurance companies. This organization plays a crucial role in the insurance industry by maintaining a database that helps insurers assess applicants' medical records and histories. When individuals apply for life, health, or disability insurance, insurers can request information from the MIB to better understand the applicant's risk and health profile.

Insurance companies fund the MIB to facilitate the sharing of medical information among themselves while ensuring that the data is used appropriately and confidentially. The collaboration allows them to make informed underwriting decisions and helps to prevent insurance fraud, benefiting both the industry and consumers.

The Department of Insurance primarily regulates insurance practices and does not directly support organizations like the MIB. Insurance agents act as intermediaries between insurers and consumers but do not provide financial support to the MIB as a governing body. Hence, the support from insurance companies is the vital factor behind the MIB's operational capabilities.